The agreement was signed at the Office of the Minister of Finance in the Albanian capital, Tirana, by the Papal Nuncio in the city, Msgr. Giovanni Bulaitis; and the Financial Minister of Albania, Ridvan Bode.

According to a release from the Holy See, the pact “comes in the wake of the accord between the two countries concluded in 2002, and creates a juridical framework for the fiscal treatment of ecclesiastical institutions recognized as non-profit juridical entities.” Particularly, “it regulates the fiscal status of Catholic Church organizations in Albania, the economic administration of such structures, and the contributory- insurance scheme for the non-Albanian religious and lay personnel who serve in them."

The agreement, the press release continues, “will come into effect following the exchange of the instruments of ratification.”